Sep 21, 2014

One day forex challenge, price money $1,500

Occasionally I get messages in my mailbox about upcoming forex trading challenges, organized by different brokers. Most of the time, the period of the challenge is relatively short, you may trade on demo accounts and the price money is good!

Maybe some of you, interested in forex trading (beginners or even more advanced traders, like to challenge them self or compare their trading with a group of competitors. But be aware, maybe we may not call this challenges "trading" because to even come close to the yields of the winners, you have probably to violate your own risk rules. Because you have to trade with high leverage!!! But maybe that is the charm or better "lesson to learn" for many (beginning) traders, that they can experience the consequences of trading with high risk (leverage) within a real environment.

So if you are interested in trading forex, you can participate challenges to earn price money and earn some additional passive income. The participation is always FREE of charge. Maybe you can post your experiences and your end result here as a comment to the post in which the challenge you participated in was announced.




The first challenge I want to post is of broker:

 INSTAFOREX

http://www.instaforex.com/contest_forex_rally.php

A one day challenge 26th of September, price money $1,500




I do not have relationship with the brokers I'm posting the their challenges!!!!

Sep 18, 2014

National Achievers Congress follow up seminar Forex Trading

From the 26th till 28th of September, I will join the National Achievers Congress's follow up seminar on Forex Trading. The seminar will be held in the Crown Plaza Hotel in Amsterdam.

Courtney Smith is one of the most successful investors of the last 30 years. He is a multi-disciplinary leader and the only person in history to have a highly ranked hedge fund, stock picking letter, mutual fund, and futures newsletter. Courtney has spoken throughout the world, appeared on over 1.000 TV shows reaching tens of thousands with his dynamic and fun approach to the stock market, futures and forex and authored 7 books. I personally would recomment these (with link):


Although I'm not new to trading, I really curious of what Mr. Smith will teach me. I have high hopes. He promised us at the National Archievers Congress that he would teach us a system that only takes max. 15 minutes of your time to monitor the charts to take appropriate action. Besides that he is so convinced of the success rate of his system that he would provide every single student some of his money to trade with.

Let us see if this still stands by end of September (if he can remember his promise) and if so, what the conditions are. Or maybe what the catch is!!!!

Sep 17, 2014

National Achievers Congress 2014: sourcing for passive income!

The National Achievers Congress (further abbreviated by me as NAC) was my way to source for opportunities to generate additional passive income. It is like "marketplace". During the two days event a lot of speakers, all successful in their field, are given the opportunity to inspire the audience by given a quick insight as an appetizer and encourage everyone to subscribe to their follow up seminars later on that year. The NAC is a yearly recurring event organized by Success Resources in currently 21 countries. The title of the 2014 event was:

The pursuit of wealth & "happyness". 

The keynote speaker was the author of the book Chris Gardner. The book was filmed successfully starring Will Smith in the role of Chris Gardner. During the event there were speakers in the following fields:
  • personal development: Les Brown and Pieter Monsma;
  • business development: Tom Hopkins (sales tactics), JT Fox (branding and business organization) and Itzik Amiel (social media);
  • domain trading: Daniel Miller;
  • forex trading: Courney Smith;
  • property trading: Kevin Green;
  • internet marketing: Adam Ginsberg;
  • publishing: Gerry Robert.

My follow up sourcing choices:

Based on the intros of speaker I was interested in and subscibe for having follow up seminars in the following fields: domain trading, forex trading and internet marketing. Besides those my spouse subscibed to: Les Brown, JT Fox and property trading (Kevin Green). I may join her as a guest.

In my blog I will describe further my journey to generate passive income based on the seminars in the fields of domain trading, forex trading and internet marketing. I have categorized the fields by pages in my blog!!

Sep 7, 2014

The wealth building equation!

What people who are taking efforts to build up wealth often forget, is that wealth is the resultant of a two part equation. One part is income, but the other part is cost. Building wealth is nothing else than making sure than your stream of income is consistently bigger than your costs. So simple but most people concentrate solely on their stream of income. Even worse, there are people out there that, although their intention is to build wealth, enhance their cost of living subsequently or even more than the growth of the income stream.

One part of the equation: the cost of living

Reducing your costs does not automatically mean that you have to reduce your standard of living. The purpose is to keep same degree of luxury by critically evaluating your providers. See if you can cut your costs by just changing service provider. Most of the time service providers have great welcome discounts for new customers.Take advantage of it! If necessary change every year. Concentrate yourself first on the ongoing recurring cost, like utilities (gas, water, electricity and phone) and insurance costs. Those markets are very competitive so it is not hard for you to cut your costs without give in on your standard of living.

Although the process of being critical about my cost of living is for me ongoing now, have I start changing my providers end of last year. I've changed my providers of electricity, gas, phone and insurance and picked some great bargains because of the discount they provided new customers. But for now I do not want to go into that in more detail because it is a recurring process and it better to post about it when they occur.

The other part of the equation: the stream of income

You can  divide your stream of income into two parts, your active and your passive income. Your active income is the income you generate from your normal work, your professional career. It is normally very rigid, hopefully for you very stable and sustainable The downside is that it is hard for you to have influence on, especially not on the short run. If you want to increase your stream of income short-term, you have to concentrate on increasing your passive income capabilities.

Increasing my passive income stream was one of my resolutions for this year. How I did it? You can follow my endeavours in my blog when I go forward in this process.

Sep 4, 2014

How I started my search for passive income

From the moment I felt the need to go looking for passive income, I started googling for public speakers: Robert Kiyosaki, T.Harv Eker, Tony Robbins and others. Indeed, I believe that if you are new to an area it is safer to mirror successful people than search your way by trial and error. Learn to copycat their methods till they become your own and tweak it afterwards, if necessary for your specific situation. During this search I came across the "National Achievers Congress."

The institute 'National Achievers Congress' lines up proven successful public speakers from all over the world to share Their personal strategies for success and show you how to get results in business now and in the future. The Congress's motto is that you can not rely on old methods to meet the new challenges of today. That you need to know what's cutting in business right now and what's going to work in the future. And that the best way to prepare yourself for tomorrow's business challenges is by learning the progressive success systems from those who are proving that they work at the very highest level.

The quickest way to become successful is to spend time with those that already are. The National Achievers Congress brings together some of the most prominent leaders in their field in the world today. Those who are dedicated to creating and sharing the most cutting-edge systems for success.

Well Their motto was exciting me and the best thing was That the "National Achievers Congress" was held in Amsterdam. So in my home country, the Netherlands, I could not resist or let it pass. The 28-29th of June, although the Netherlands had to play their first match at world championship soccer, I was visiting the congress.

Sep 3, 2014

Why people search for passive income

There can be many reasons why people are looking for ways to generate additional passive income. For example, you can experience that your primary source of income is not sufficient, or is entitled to a high degree of variability or its sustainability in the future is uncertain. You want to develop a secondary source. Or, you are unhappy with the current return on savings. The savings rate is currently so low. You want more active use your assets. You want to let your money work more for you.

In my case it involved a combination of several factors. Firstly, I have plenty of time, Because I retired at a very young age and I do not intend to develop further activities in my "old" field. I desire the flexibility with where and when I want to "work". Secondly, I have some spare money, that I want to let work more actively for me. And finally, I experience a certain degree of uncertainty regarding my financial future caused by the current economic developments.

In my next post, I will explain how I've dealt with my quest to generate additional passive income.

Sep 2, 2014

Passive income: what, why and how.

What is passive income?

 Passive income is an income received on a regular basis, with little effort required to maintain it. It is closely related to the concept of "unearned income", according Wikipedia. As examples of passive income, Wikipedia mentions:
  • Any type of property income
  • Earnings from a business that does not require direct involvement from the owner or merchant;
  • Rent from property;
  • Interest from a bank account
  • Royalties from publishing a book or from licensing a patent or other form of intellectual property, such as computer software product;
  • Earnings from internet advertisements on websites;
  • Dividend and interest income from owning securities, such as stocks and bonds, is usually referred to as portfolio income, which may or may not be considered a form of passive income. In the United States, portfolio income is considered a different type of income than passive income;
  • Pensions.
To me, passive income is closely related to additional income. Addition in a sense that it is not my main income generated by my main professional career. So I extend the definition a bit and make it broader with examples like, selling on Amazon and/or Ebay, trading domains and trading all kind of financial instruments, like trading Forex.

Why people search for generating passive income?

There can be many reasons why people are looking for ways to generate additional passive income. For example, you can experience that your primary source of income is not sufficient, or is entitled to a high degree of variability or its sustainability in the future is uncertain. You want to develop a secondary source. Or, you are unhappy with the current return on savings. The savings rate is currently so low. You want more active use your assets. You want to let your money work more for you.

In my case it involved a combination of several factors. Firstly, I have plenty of time, Because I retired at a very young age and I do not intend to develop further activities in my "old" field. I desire the flexibility with where and when I want to "work". Secondly, I have some spare money, that I want to let work more actively for me. And finally, I experience a certain degree of uncertainty regarding my financial future caused by the current economic developments.

How I started my search for passive income.

From the moment I felt the need to go looking for passive income, I started googling for public speakers: Robert Kiyosaki, T.Harv Eker, Tony Robbins and others. Indeed, I believe that if you are new to an area it is safer to mirror successful people than search your way by trial and error. Learn to copycat their methods till they become your own and tweak it afterwards, if necessary for your specific situation. During this search I came across the "National Achievers Congress."

The institute 'National Achievers Congress' lines up proven successful public speakers from all over the world to share Their personal strategies for success and show you how to get results in business now and in the future. The Congress's motto is that you can not rely on old methods to meet the new challenges of today. That you need to know what's cutting in business right now and what's going to work in the future. And that the best way to prepare yourself for tomorrow's business challenges is by learning the progressive success systems from those who are proving that they work at the very highest level.

The quickest way to become successful is to spend time with those that already are. The National Achievers Congress brings together some of the most prominent leaders in their field in the world today. Those who are dedicated to creating and sharing the most cutting-edge systems for success.

Well Their motto was exciting me and the best thing was That the "National Achievers Congress" was held in Amsterdam. So in my home country, the Netherlands, I could not resist or let it pass. The 28-29th of June, although the Netherlands had to play their first match at world championship soccer, I was visiting the congress.